reply Taiwan's exports continue to weaken, with downward pressure on the economy

Taipei, March 9 (Xinhua) (Reporter Huang Yang and Zhang Lixin) Taiwan's authorities in charge of financial affairs recently released data showing that Taiwan's exports in February amounted to US$31.05 billion, a 24-month low and down 17.1 percent year-on-year.　　Looking at the main export categories, the export performance in February was generally weak. In terms of export regions, Taiwan's exports to major markets such as the mainland (including Hong Kong), the United States, Europe and ASEAN were all in decline.　　Taiwan's export situation is still in the midst of a "crunchy spring", according to sources at the financial affairs department of the Taiwanese authorities, with exports expected to be between US$35 billion and US$36.5 billion in March, down 16 to 19.5 per cent year-on-year. In the first quarter, Taiwan's exports are expected to fall between 18% and 19.5% year-on-year.　　Exports account for more than 60% of Taiwan's total economy, and weak exports directly put economic growth under pressure. This "chill" has blown into the international tool and machine exhibition being held in Taipei. Exhibitors generally said that the atmosphere at the show has slightly warmed up, but there is still a significant gap compared to before the epidemic.　　The Taiwan Tool and Component Industry Association released data on the 8th showing that Taiwan's tool machine exports in February amounted to US$168 million, a 29.2% decrease from the previous year and a 26.9% decrease from the previous year.　　It can be noted that in February, Taiwan's exports of tooling machines to the mainland (including Hong Kong) rose by 22.7% from a year earlier to US$47.29 million, making the mainland the largest export market for Taiwan's tooling machines again.　　The president of machine tool manufacturer Taiwan Youjia Group, Zhu Zhiyang, said in an interview with Xinhua News Agency that Taiwan's economy is highly dependent on the mainland market, and the recovery of the mainland economy to Taiwan's industry is expected to gradually become apparent in the second to third quarter of this year.　　According to Jane Jinhan, a researcher at the Institute of Economics of the Academia Sinica, the recovery of the mainland economy has driven Taiwan's purchasing managers' index (PMI) back into the expansion range, and the export dividend for Taiwan is expected to gradually appear.　　In addition to weak exports, inflation continues to be high and has become a major concern for Taiwan's economy this year. Analysts on the island are concerned that "high prices and low growth" may become a long-term phenomenon, and that if inflation in the livelihood sector continues, it will lead to a knock-on effect, reducing people's consumption momentum and thus affecting economic growth.　　Since this year, major think tanks on the island have generally taken a conservative view of Taiwan's economic outlook this year, with most believing that it will be a year of "cold outside and cool inside" and "inflationary feeling".